XML 16 R4.htm IDEA: XBRL DOCUMENT v3.24.2.u1
Consolidated Statements of Income - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Interest and dividend income        
Loans, including fees $ 62,151 $ 61,561 $ 124,824 $ 118,771
Loans held-for-sale 19 19 33 31
Securities:        
Taxable 8,552 9,930 16,644 20,665
Tax exempt 1,292 1,337 2,598 2,674
Dividends from FHLBC and FRBC stock 584 396 1,219 676
Interest bearing deposits with financial institutions 625 643 1,235 1,228
Total interest and dividend income 73,223 73,886 146,553 144,045
Interest expense        
Savings, NOW, and money market deposits 4,317 1,742 8,354 2,891
Time deposits 4,961 1,156 9,002 1,820
Securities sold under repurchase agreements 83 7 169 16
Other short-term borrowings 3,338 5,160 7,895 7,505
Junior subordinated debentures 288 281 568 560
Subordinated debentures 546 546 1,092 1,092
Senior notes   1,414   2,408
Notes payable and other borrowings       87
Total interest expense 13,533 10,306 27,080 16,379
Net interest and dividend income 59,690 63,580 119,473 127,666
Provision for credit losses 3,750 2,000 7,250 5,501
Net interest and dividend income after provision for credit losses 55,940 61,580 112,223 122,165
Noninterest income        
Mortgage servicing rights mark to market (loss) gain (238) 96 (144) (429)
Net gain on sales of mortgage loans 468 398 782 704
Securities (losses) gains, net   (1,547) 1 (3,222)
Change in cash surrender value of BOLI 820 418 1,992 660
Death benefit realized on BOLI 893   893  
Card related income 2,577 2,690 4,953 4,934
Other income 742 773 1,772 2,262
Total noninterest income 11,127 8,223 21,628 15,573
Noninterest expense        
Salaries and employee benefits 23,424 21,798 47,736 44,046
Occupancy, furniture and equipment 3,899 3,639 7,826 7,114
Computer and data processing 2,184 1,290 4,439 3,064
FDIC insurance 616 794 1,283 1,378
Net teller & bill paying 578 515 1,099 1,017
General bank insurance 312 306 621 611
Amortization of core deposit intangible 574 618 1,154 1,242
Advertising expense 472 103 664 245
Card related expense 1,323 1,222 2,600 2,438
Legal fees 238 283 464 602
Consulting & management fees 797 520 1,133 1,310
Other real estate expense, net (87) (98) (41) 208
Other expense 3,547 3,840 7,140 7,477
Total noninterest expense 37,877 34,830 76,118 70,752
Income before income taxes 29,190 34,973 57,733 66,986
Provision for income taxes 7,299 9,411 14,530 17,817
Net income $ 21,891 $ 25,562 $ 43,203 $ 49,169
Basic earnings per share $ 0.48 $ 0.57 $ 0.96 $ 1.10
Diluted earnings per share 0.48 0.56 0.95 1.08
Dividends declared per share $ 0.05 $ 0.05 $ 0.10 $ 0.10
Wealth management        
Noninterest income        
Service charges on deposits $ 2,779 $ 2,458 $ 5,340 $ 4,728
Service charges on deposits        
Noninterest income        
Service charges on deposits 2,508 2,362 4,923 4,786
Secondary mortgage fees        
Noninterest income        
Service charges on deposits 65 76 115 135
Mortgage servicing income        
Noninterest income        
Service charges on deposits $ 513 $ 499 $ 1,001 $ 1,015